XBFR vs. XBAP
XBFR (Innovator Equity Managed 10 Buffer ETF) and XBAP (Innovator U.S. Equity Accelerated 9 Buffer ETF - April) are both Defined Outcome funds from Innovator. Both are actively managed. Their 0.79 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.79% expense ratio.
Performance
XBFR vs. XBAP - Performance Comparison
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Returns By Period
XBFR
- 1D
- 0.67%
- 1M
- -0.27%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
XBAP
- 1D
- 0.31%
- 1M
- 0.72%
- 6M
- 8.92%
- YTD
- 9.28%
- 1Y
- 14.34%
- 3Y*
- 12.98%
- 5Y*
- 9.74%
- 10Y*
- —
- ALL TIME*
- 9.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $190.07K | $209.78K | $282.95K | |
| $260.31K | $267.77K | $415.44K |
XBFR vs. XBAP - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
XBFR Innovator Equity Managed 10 Buffer ETF | 5.51% |
XBAP Innovator U.S. Equity Accelerated 9 Buffer ETF - April | 8.72% |
Correlation
The correlation between XBFR and XBAP is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Feb 24, 2026 | 0.79 |
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Return for Risk
XBFR vs. XBAP — Risk / Return Rank
XBFR
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
XBAP
XBFR vs. XBAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Managed 10 Buffer ETF (XBFR) and Innovator U.S. Equity Accelerated 9 Buffer ETF - April (XBAP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| XBFR | XBAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.93 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 10.75 | — |
| Martin ratioReturn relative to average drawdown | — | 55.99 | — |
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Drawdowns
XBFR vs. XBAP - Drawdown Comparison
The maximum XBFR drawdown since its inception was -4.12%, smaller than the maximum XBAP drawdown of -14.57%. Use the drawdown chart below to compare losses from any high point for XBFR and XBAP.
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Drawdown Indicators
| XBFR | XBAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.12% | -14.57% | +10.45% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.30% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -8.25% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.57% | — |
Current DrawdownCurrent decline from peak | -1.25% | 0.00% | -1.25% |
Average DrawdownAverage peak-to-trough decline | -1.15% | -1.70% | +0.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.25% | — |
Volatility
XBFR vs. XBAP - Volatility Comparison
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Volatility by Period
| XBFR | XBAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.15% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.10% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 9.13% | 3.67% | +5.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.13% | 9.97% | -0.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.13% | 9.75% | -0.62% |
XBFR vs. XBAP - Expense Ratio Comparison
Both XBFR and XBAP have an expense ratio of 0.79%.
Dividends
XBFR vs. XBAP - Dividend Comparison
XBFR's dividend yield for the trailing twelve months is around 0.10%, while XBAP has not paid dividends to shareholders.
| Position | TTM |
|---|---|
XBAP Innovator U.S. Equity Accelerated 9 Buffer ETF - April | 0.00% |
XBFR Innovator Equity Managed 10 Buffer ETF | 0.10% |
Frequently Asked Questions
XBFR and XBAP have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.79% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XBFR and XBAP have the same expense ratio: 0.79% per year.
XBFR has the higher dividend yield at 0.10%, compared with 0.00% for XBAP.
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